I have never been homeschooled or homeschooled my children, but as someone who personally knows a looooot of homeschoolers, this has got to be the most accurate assessment of homeschooling I've seen.

The various people I know who homeschool do it for different reasons; like you mentioned, some are entrepreneurs who need to stay mobile as a family, some have lost hope in the educational system and its ability to educate, and one particular friend who is in Mexico has his children in a co-op that consists of a large group of like-minded friends where they divide the curriculum based on area of expertise (e.g., the mechanical engineer teaches math, the fitness couple teaches physical education, the history buff teaches history, etc.).

I don't have the network for a co-op, but hands down, that would be my school of choice for my kids.